Closer Scrutiny on Tax Filings of NRIs

 The income tax department is closely examining the tax filings of non-resident Indians (NRIs) due to suspicions that some may have failed to pay the required taxes. Numerous NRIs have reportedly received notices from the tax authorities asking them to correlate the funds in their bank accounts or investments made by them, with the incomes reported in their tax filings. In many cases, these notices have been sent under Section 148(A) of the Income Tax Act, indicating that the authorities believe that certain income has escaped assessment and that more tax may be due.

Charu Dhasmana

· 6,803 views

Top 10 Mutual Fund Companies in India for Investment in 2023

 Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, and other securities. In recent years, a large number of people in India, as well as NRIs, are shifting their investments towards mutual funds. There are many mutual fund houses in India. Each fund house provides different schemes for investors to choose from depending on their investment goals. Let’s look at the top 10 mutual fund companies in India.

Manoj Negi

· 6,375 views

What are the uses of a PAN Card for NRIs?

 Today, Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are spread across the globe. According to a report by the United Nations, India had the largest diaspora population in the world with 18 million people living outside India till 2020. A PAN (Permanent Account Number) Card is mandatory not only for resident Indians but also for NRIs who wish to invest in India or have any Indian income. Let’s understand the uses of a PAN card for NRIs and OCIs.

Manoj Negi

· 33,205 views

PAN Aadhaar Linking for NRI: Is it Mandatory?

 PAN Aadhaar Linking for an NRI: There is a notification under the Income Tax Act that says: “Link you PAN with Aadhaar before 31st March 2021 else the PAN shall become inoperative” Now, NRIs are worried about this penalty and have constantly been asking about PAN Aadhaar Linking. Since, most of them don’t have an Aadhaar card, this doubt becomes more and more legit! Let’s take a look at the summary of some of the sections in the Income Tax Act and create a sequence that will enable us to understand whether linking of the PAN Card with Aadhaar Card is mandatory for an NRI or not.

Manoj Negi

· 142,123 views

Reassessment Income Tax Notice to NRIs: How to Respond to it?

 Several UAE-based Non-Resident Indians (NRIs), have received an income tax notice from the Indian Income Tax Department regarding their previous investments in India. This has caused worry among NRIs about how to proceed after receiving such notices, especially when they are not familiar with Indian tax laws and regulations. However, it is essential to respond to such notices promptly to avoid any legal consequences. In this blog, we will explain how NRIs should respond to a reassessment income tax notice.

Charu Dhasmana

· 8,102 views

Challenges in Doing Business in India for NRIs

 Non-Resident Indians (NRIs) have always been an integral part of India's economy. Along with large inward remittances, NRIs also bring along skills, vast knowledge and expertise when setting up businesses in India. India received the highest annual FDI inflows of $84.835 billion in the Financial Year (FY) 2022. However, despite their immense contributions, NRIs face several challenges in doing business in India. In this blog post, we will discuss some of the significant challenges faced by NRIs while doing business in India.

Charu Dhasmana

· 6,369 views

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